The Global Market for Sports Fishing Equipment is Projected to Exceed US$20 Billion by 2022

Myriad Health and Well-Being Benefits of Recreational Fishing Drive Demand for Sports Fishing Equipment, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Sports Fishing Equipment market. The global market for Sports Fishing Equipment is projected to exceed US$20 billion by 2022, driven by the growing popularity of recreational fishing, and steady launch of innovative and advanced fishing lures, baits, bobber, reels, and lines, among others.

Fishing is known to mankind since centuries and forms an important source of livelihood as well as income for the fishing community. Fishing has evolved from an activity for livelihood to recreational activity primarily due to the sheer pleasure and competitive spirit offered by the sport. Supported by the rising popularity of recreational fishing, sports fishing equipment market is registering healthy growth. Various health and well-being benefits provided by recreational fishing irrespective of age, sex, ability and mobility which are driving its increasing popularity, include social bonding, relaxation, unplugging from daily grind and digital lifestyles in the fresh outdoor air, family bonding, fitness & physical exercise, stress relief, promoting mental and physical health, recovery from certain cancers, and nutritional benefits of eating the protein rich fresh fish, among others. Increasing expenditure by millions of anglers across the globe and special taxes collected on fishing tackle and motorboat fuel also contribute to the rising number of fish recreational programs and fisheries conservation thereby offering economic and ecological benefits.

Future growth in the market will be driven by the growing demand for technologically advanced and innovative fishing equipment including but not limited to fishing lines with higher abrasion resistance, durability, strength, smoothness, sensitivity, invisibility, low-stretch, and seamlessness; and reels made of polymeric materials and features faster speed, better adjustment in changing wind conditions, satiny finish, and a larger spool. Further, the integration of various electronic devices with smartphones and touch screens, and electronics on the boat being connected to personal devices and to the cloud is providing a phenomenal wealth of information in improving the fishing performance and increasing the productive catch. Other innovative equipment poised to benefit market prospects in the near term include rods made of carbon fiber that are lightweight and at the same time strong and slim, with enhanced grip, impeccable balance and mechanically efficient action; lures that mimic sounds of fish, and the characteristic wobbling action; bobber with an integrated intel chip, and 3D printed bobbers; and a fishing camera for easy underwater viewing using tablets or smartphone. Increase in the percentage of female-anglers represents another opportunity for vendors who are launching a variety of differently designed fishing rods for this end-user segment.

As stated by the new market research report on Sports Fishing Equipment, the United States represents the largest market worldwide supported by the great American outdoor culture where recreational fishing is viewed as a relaxing sport offering peace and tranquility. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.1% over the analysis period led by factors such as rise in fishing destinations in Southeast Asia, growing prominence of fishing vacations, increasing establishment of fishing resorts, untapped opportunities for sophisticated fishing equipment in a market dominated by traditional, indigenously made fishing gear, westernization of lifestyles and hobbies, and expanding base of middle class population and high net worth individuals on the lookout for new hobby niches.

Key players covered in the report include AFTCO Mfg. Co., Inc., Castaic Soft Bait, Inc., Daiwa Corporation, Diamondback fly Rods, Eagle Claw Fishing Tackle Co., Eppinger Mfg. Co., Gamakatsu Co., Ltd., Gibbs-Delta Tackle, Grandt Industries, Inc., Hagen's, Happysea (Suzhou) Company Ltd., Jim Teeny, Inc., Koppers Fishing and Tackle Corporation, O. Mustad & Son A.S., Okuma Fishing Tackle Corporation, Pure Fishing, Inc., Rapala VMC Corporation, Sea Masterenterprise Co., Ltd., Shimano, Inc., Spinal Rods, St. Croix Rods, Tackobox LLC, Taylor Reels, and Tica Fishing Tackle, among others.

The research report titled “Sports Fishing Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), and Latin America. Product segments analyzed in the report include Rods, Reels, & Poles; Lures, Flies, & Baits; Fishing Lines; Fishing Hooks, and Others.

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